The Expiration Adjust Method
The XADJUST value is 0.00, and the XDAYS values are 15.00 (meaning 15 days)
for all options. Like changing the interest rate, you can adjust the time to
expiration several different ways. Suppose, however, you want to create a window
that will forecast price performance five days into the future. To adjust the
time to expiration at the quote window level, follow these steps:
1. Display the Quote Menu.
2. Select Option Parameters.
The Quote Option Parameters menu is displayed.
3. Open the Adjust field:
Click the left mouse key once on the adjust field.
Use the arrow keys to move the highlight to the Adjust field and press
An Edit Box opens in the Adjust field.
4. Enter the number of days by which you want to adjust the time to expiration.
Suppose you adjusted the time to expiration by five days by entering the
number 5 in the Adjust field. Were you to do this, the XADJUST and all XDAYS values
change:
Notice the XADJUST field now shows 5.00, or 5, the number of days by which we
adjusted the time to expiration. Likewise, where the XDAYS field used to
display 15.00, it now displays 10.00, the difference between 15.00 and 10.00. Were
you to save this window, it would retain these parameters and expiration
adjustments. These adjusted parameters apply only to this window. If you create
another window just like this one, it inherits a time to expiration based on the
values in the Expire Adjust field in the Global Option Parameters menu. By
default, the global Expire Adjust parameter specifies 0.0 days adjustment, and,
arguably, it should stay this way.
The values in the quote window change to reflect your adjustment to the amount
of time to expiration.